Logbook loans are known as a reliable alternative for standard bank loans, but there are a number of other benefits of a logbook loan than just not having credit checks. Here are a few of these advantages.
With a logbook loan, it is very convenient to obtain your cash. Application is done online, and requirements are very few and easy to accomplish. In fact, you probably already have most, if not all of them, which means you can get your cash within just a few hours!
Unlike other loans for bad credit, you are not limited to a few hundred pounds. Because there’s a collateral involved, you are entitled to borrow a much higher amount, which you can use for other worthwhile expenses other than just paying overdue bills.
With logbook loans, repayment options are fully customisable. You won’t be forced into a 4-week repayment timeframe if that’s not convenient and affordable for you. You can spread out your repayments in the beginning and decide to pay the loan in full should you suddenly obtain the means to pay.